Heaptalk, Jakarta — PT Dian Swastatika Sentosa (DSSA), Sinarmas Group’s business unit, announced have signed the investment deal with PT Elang Andalan Nusantara, the Company that operates e-wallet DANA.
The Group plans to inject the fund of US$200 million through its subsidiary, PT DSST Dana Gemilang (DSST). DSSA’s Corporate Secretary, Susan Chandra, conveyed that the investment is the series of the Group’s measures to promote digital business development collaboration.
“This collaboration is expected to provide positive impact towards digital ecosystem development performed by companies and stakeholders,” stated Susan in a statement (03/01/22).
She, further, added that the completeness of the investment process will depend on the compliance of initial requirements, including the approval from the authority, as reflected in the equity participation agreement.
“After the requirements are met and accepted by the related authority, DSST will be one of the largest shareholders in DANA,” uttered Susan.
As the additional information, Dian Swastika Sentosa is one of Sinarmas Group’s business units that runs its firm in several industries, including electricity supply, trading, real estate and infrastructure, as well as construction. Embarking its business in 1998, the Company established its headquarter in Jakarta, whilst its power plants have been disseminated in other cities, such as Tangerang, Serang, and Karawang.
Previously, the rumor about the newcomer in the list of Dana’s shareholders was widespread, yet, the name remained a mystery. At that time, the news said that the acquisition would be carried out through Smartfren Telecom (FREN), Sinarmas Group Entity that lies its business in telecommunication and digital services.
Confirming the issue, the Corporate Secretary EMTK, Titi Maria Rusli, in her explanation to Indonesia Stock Exchange, voiced that the Company always opens any opportunities to build cooperation with any partners or strategic partners (11/26/21)
Denied the issue, as cited in CNBC Indonesia (07/27), the Director of FREN, Antony Susilo, firmly stated that the Company has no agenda to acquire the platform owned by Elang Mahkota Teknologi Group (Emtek). “Our Company has no plan to take over or acquire DANA,” said Antony in a statement (07/27). (WLN)
